Swiss Gold Referendum: Impressions Of The Latest TV Debate

Past Friday, a TV debate was broadcasted in Switzerland about the gold referendum. The debate was organized by the Swiss channel SRF. The full show is available online: Abstimmungs-Arena: Gold-Initiative (mind this is in Swiss and there is no transcript or summary available in English).

It was mainly a political debate mainly. On the pro-side of the debate was Lukas Reimann and Ulrich Schlüer. Mind that the young guy Lukas Reimann was recently lecturing the Parliament about Rothbard’s theories. On the contra-side was Finance Minister Eveline Widmer-Schlumpf and National Councillor Karin Keller-Sutter.

The discussion by the featured guests was interspersed wih comments from citizens who were attending in the studio.

Claudio Grass, Managing Director at Global Gold Switzerland, provided some comments on the TV debate. He first noted that the authorities are increasingly showing a “need” to use the government owned TV stations to push the message that the gold backing would be a big mistake. He feels that authorities are becoming increasingly nervous.

Moreover, based Karin Keller-Sutter seemed to have some concerns about the macro situation, based on the opinions she expressed, but she clearly does not understand how the monetary system works and how the ongoing wealth destribution works.

Another impression worth sharing was that Claudio Grass had heard from several people that they were not able to join the studio (the Arena). It is a pitty because they were very well informed about the matter, with a good understanding of Austrian Economics and the monetary system. Those were the people between the audience who would have been able to comment insightfully. It feels like those type of people were not really welcome.

The polls from a month ago still reflect the status between yes and no voters: approximately 45% are pro and 39% against the gold initiative. Also, a recent study revealed that the lower the citizens in the hierarchy, the more they are in favour of the gold initiative.

In closing, Claudio Grass brought up the point that the Swiss people are already the big winners, whatever the outcome of the votes. Over the last few weeks and months, the Swiss citizens have opened their mind towards gold, its fundamental value, the monetary system and the wealth redistribution issues. Even with a “no” vote, the referendum will prove to be a good starting point with an increasing number of people questioning the monetary system and the policy of its central planners.

Listen to the full interview, courtesy of The Daily Coin:

Receive these articles per e-mail

Subscribe for the free weekly newsletter and receive 3 papers about physical precious metals investing